Axsome Therapeutics (NASDAQ:AXSM) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on AXSM. William Blair reaffirmed an "outperform" rating on shares of Axsome Therapeutics in a research report on Tuesday, February 18th. HC Wainwright reduced their target price on shares of Axsome Therapeutics from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 target price (up from $160.00) on shares of Axsome Therapeutics in a research note on Tuesday, May 6th. Robert W. Baird boosted their target price on shares of Axsome Therapeutics from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Bank of America boosted their target price on shares of Axsome Therapeutics from $143.00 to $167.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $172.14.

Axsome Therapeutics Stock Up 0.7%

Shares of AXSM traded up $0.77 during midday trading on Wednesday, hitting $108.30. The company had a trading volume of 569,870 shares, compared to its average volume of 688,385. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 3.22. Axsome Therapeutics has a 52 week low of $64.11 and a 52 week high of $139.13. The company's 50 day moving average price is $110.49 and its 200 day moving average price is $105.30. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of -18.08 and a beta of 0.46.

Axsome Therapeutics (NASDAQ:AXSM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.96) earnings per share for the quarter, beating analysts' consensus estimates of ($0.97) by $0.01. Axsome Therapeutics had a negative net margin of 74.47% and a negative return on equity of 223.51%. The business had revenue of $118.77 million during the quarter, compared to the consensus estimate of $117.83 million. On average, equities research analysts predict that Axsome Therapeutics will post -2.79 EPS for the current year.

Institutional Trading of Axsome Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in AXSM. Barclays PLC raised its holdings in shares of Axsome Therapeutics by 279.6% in the 3rd quarter. Barclays PLC now owns 61,785 shares of the company's stock worth $5,552,000 after purchasing an additional 45,509 shares in the last quarter. Flower City Capital bought a new stake in shares of Axsome Therapeutics in the 4th quarter worth approximately $254,000. Janney Montgomery Scott LLC raised its holdings in shares of Axsome Therapeutics by 90.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,745 shares of the company's stock worth $1,163,000 after purchasing an additional 6,546 shares in the last quarter. KBC Group NV increased its stake in Axsome Therapeutics by 40.5% in the 4th quarter. KBC Group NV now owns 1,336 shares of the company's stock valued at $113,000 after buying an additional 385 shares during the period. Finally, R Squared Ltd acquired a new position in Axsome Therapeutics in the 4th quarter valued at approximately $64,000. 81.49% of the stock is currently owned by institutional investors.

Axsome Therapeutics Company Profile

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company's commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.